Abstract: the article analyzes the application of the capital asset pricing model (CAPM) in the theory of the portfolio approach and improving the efficiency of investment in the real sector of the economy. The relevance of developing this issue is due to the traditionally high level of risks and negative consequences of investment, especially in the industry. The author defines the key specific features of the problem under study, emphasizes the relevance of the study, as the Russian securities market is actively developing, the wealth of the population is growing, and the need for their capital to work and bring in income higher than Bank deposits is growing, which is why interest in the stock market is increasing in our country. The analysis of the model under study and the relationship between the expected return and risk of a particular security, according to which the expected (required) return of a security is equal to the risk-free interest rate plus a premium that takes into account the systematic risk of such a security. The assessment of current methods of investment risk management in projects is given. Based on the research, the key conclusions are summarized and formulated, and recommendations are made for improving risk management of enterprises. These assumptions simplify the situation on the stock market as much as possible. The use of the model and its derivatives can be used by business entities and individuals to assess the situation in the financial market and make decisions about choosing the optimal investment portfolio, which can significantly increase their competitiveness in a constantly changing, risky environment.
Keywords: investments, portfolio theory, capital assets pricing model, CAPM